Real Estate Trends – Carlisle, Massachusetts

Introduction:

Welcome back again for our latest real estate market trend report. For those of you that are here for the first time what we do in these reports is examine the real estate market in a city or town in Massachusetts or New Hampshire to evaluate the current conditions. We do this by looking at the changes in three key metrics year over year for the municipality to see how the market has changed and then evaluate what those observations might mean for that market moving forward

Market Trends in Carlisle, MA – July 2014 and 2015:

The Carlisle, MA market appears to be down tremendously since last year. Both the average listing and average sales prices were down a huge amount. However, the days on market were down slightly since last year. Inventory was up a fair amount going from 13 sales in July of 2014 and 18 in July 2015.

Average Listing Prices:

To start off first we are going to look at the average listing price. For Carlisle, MA the average listing price in July 2014 was $1,141,062. This was down to $865,083 in July 2015. This gives a massive 24.17% decrease year over year.

As we have been making sure to do recently when there is this big of a change we also will check the median prices. For Carlisle, MA we see they were a bit lower than the averages, in 2015. They were actually very close in 2014. For July of 2014 the median listing price for Carlisle, MA was $1,125,000 and in July 2015 it was $689,450 which actually gives a significantly larger 38.72% decrease.

Average Sale Prices:

Next up we will be looking at is the average sale prices. The average sale price for Carlisle, MA in July of 2014 was $1,086,065 and in July 2015 that was down to $842,111. That gives a slightly less huge decrease of 22.46%.

Looking at the median prices we see that they are similar in pattern to the average list prices above. For July of 2014 the median sales price for Carlisle, MA was $1,053,000 and in July 2015 it was $683,500 giving a much larger 35.09% decrease compared to the averages. This again is much higher than what we saw with the averages and not that much less than the median price decrease seen with the listing prices.

Both methods show that prices are down significantly in Carlisle, MA from last year. As high as the decline in average prices were the effect is much more pronounced using the medians.

Average Days on Market:

Finally the last metric we look at are the average days on market, which is the measure of how long it takes for a house to sell in the current market. For Carlisle, MA the average days on market in July of 2014 were 81.23 and the average days on market for July 2015 were 75.56, for a fairly meaningless 6.98% decrease.

I will note that since we so often see an outlier in the data skewing the numbers there are some questionable data points in both years. As mentioned in the past we are only going to eliminate ones that are so obvious that no rigorous analysis is needed. In this case each year has a 2nd point that is much smaller but way above the rest of the places, and that make it unclear if the highest is statistically an outlier. While I could do a full analysis on it the possible change is not worth the effort.

Carlisle, Mass Summary:

The Carlisle, Massachusetts real estate market looks like is has declined a tremendous amount since last year. The drops in listing prices and sale prices, by both averages and medians show things are down significantly. The trivial decrease in days on market can be put in the “it is better than nothing” category for sellers.

In summary if you are looking to sell a house in Carlisle, MA now you should expect to get much less than you would have expected to get last year. In addition you should also expect it to take about the same amount of time to sell compared to last year, maybe a tiny bit less.